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Modern Monetary Theory Meets Greece and Chicago

During the fall of 2009, George Papandreou headed the ticket of the Panhellenic Socialist Movement, known by its acronym PASOK, against the then‐​governing conservative party, New Democracy, in the Greek national elections. Papandreou ran on a platform that featured highly expansive fiscal spending. During a press conference on September 13, 2009, he was asked where he would find the money to fund his party’s spending proposals. His answer was that given in the above quotation, by which he meant that Greece had abundant fiscal space to increase government spending; he believed that tax revenues could be sharply raised through stricter enforcement of laws against tax evasion. On October 4, PASOK won a landslide electoral victory, garnering 43.9 percent of the popular vote, compared with 33.5 percent for the second‐​place, incumbent New Democracy party, with the result that Papandreou became Greece’s prime minister. In the following months, a sovereign‐​debt crisis

Counter-gang von Hayek Revives Mandeville s Hellfire Club in the 20th Century -- Puppet Masters -- Sott net

© The Strategic Culture Foundation Friedrich von Hayek, Adam Smith, Lion of Britain In Book 8 of The Republic, Plato s protagonist Socrates observes astutely that the ruin of oligarchy is the ruin of democracy. The same disease magnified and intensified by liberty overmasters democracy- the truth being that the excessive increase of anything often causes a reaction in the opposite direction and this is the case not only in the seasons and in vegetable and animal life, but above all in forms of government . Plato continues saying: the excess of liberty, whether in states or individuals, seems only to pass into excess of slavery and so tyranny naturally arises out of democracy, and the most aggravated form of tyranny and slavery out of the most extreme form of liberty.

Columbia pauses planning for $18 million Finlay Park revival as pandemic bites into funding

By Grace Beahm Alford gbeahm@postandcourier.com A map of a proposed revamp of Columbia’s Finlay Park Chris Trainor COLUMBIA — Roughly halfway into a financial year marred by the worst public health crisis in a century, taxes collected on restaurant sales in South Carolina s capital are down 37 percent compared to this time last year. And with an end to COVID-19 still far from reality, the cash-strapped city has slashed expenses and paused long-awaited projects. That includes plans for the much-neglected downtown park once called Columbia s Crown Jewel. The renovation relied, in part, on the 2 percent tax on dining and drinking.  

Crime Shouldn t Pay: Why Big Tech Executives Should Face Jail

BIG by Matt Stoller Mark Zuckerberg and Sundar Pichai need to be indicted. Hi, Welcome to BIG, a newsletter about the politics of monopoly and finance. If you’d like to sign up, you can do so here. Or just read on… Today’s issue is about the various antitrust cases against Google and Facebook announced this week, and why it’s time to issue criminal indictments against the executives responsible for the bad behavior. Plus: Legendary judge Jed Rakoff issues a ruling threatening private equity’s business model. A BIG reader discusses the health care monopoly situation in New Jersey.

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